Common use of Right of Set-off Clause in Contracts

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 172 contracts

Samples: Loan and Security Agreement (Syros Pharmaceuticals, Inc.), Loan and Security Agreement (Pliant Therapeutics, Inc.), Loan and Security Agreement (Verona Pharma PLC)

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Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 65 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement, Term Loan and Security Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 22 contracts

Samples: Loan and Security Agreement (Celcuity Inc.), Loan and Security Agreement (Rockwell Medical, Inc.), Loan and Security Agreement (MDxHealth SA)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliateor Lender Affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 22 contracts

Samples: Credit and Security Agreement (STRATA Skin Sciences, Inc.), Credit and Security Agreement (Recursion Pharmaceuticals, Inc.), Credit and Security Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 15 contracts

Samples: Subordinated Business Loan and Security Agreement (Nuvve Holding Corp.), Subordinated Business Loan and Security Agreement (Banzai International, Inc.), Business Loan and Security Agreement (Super League Enterprise, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 14 contracts

Samples: Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Tetraphase Pharmaceuticals Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 12 contracts

Samples: Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Meru Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Security Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 10 contracts

Samples: Loan and Security Agreement (Neuronetics, Inc.), Loan and Security Agreement (Neuronetics, Inc.), Loan and Security Agreement (Neuronetics, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this EXIM Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 10 contracts

Samples: Loan Modification Agreement (Stereotaxis, Inc.), Loan Modification Agreement (Stereotaxis, Inc.), Loan Modification Agreement (Stereotaxis, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower Borrower, even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 7 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement (Satcon Technology Corp), Loan Modification Agreement (Satcon Technology Corp)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 6 contracts

Samples: Term Loan and Security Agreement (A123 Systems, Inc.), Term Loan and Security Agreement (Cavium Networks), Term Loan and Security Agreement (A123 Systems, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Loan Modification (Mavenir Systems Inc), Loan Modification Agreement (Mavenir Systems Inc), Subordinated Loan Modification Agreement (Mavenir Systems Inc)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Loan Modification Agreement (Visual Networks Inc), Loan Modification Agreement (Visual Networks Inc), Loan Modification Agreement (Speechworks International Inc)

Right of Set-off. Borrower Issuer and each Guarantor hereby grants grant to Collateral Agent and to each LenderPurchaser, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Issuer even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ISSUER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY ISSUER AND EACH GUARANTOR.

Appears in 5 contracts

Samples: Note Purchase Agreement (5E Advanced Materials, Inc.), Note Purchase Agreement (5E Advanced Materials, Inc.), Note Purchase Agreement (5E Advanced Materials, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Term Loan and Security Agreement, Loan and Security Agreement (GAIN Capital Holdings, Inc.), Term Loan and Security Agreement (Meru Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 5 contracts

Samples: Loan and Security Agreement (Ardelyx, Inc.), Loan and Security Agreement (Rubius Therapeutics, Inc.), Loan and Security Agreement (Ardelyx, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender such Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders such Lender or any entity under the control of Collateral Agent or the Lenders such Lender (including a Collateral Agent affiliatesubsidiary of Lender) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders a Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 5 contracts

Samples: Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (Cadence Pharmaceuticals Inc), Loan and Security Agreement (TorreyPines Therapeutics, Inc.)

Right of Set-off. Borrower Each Loan Party hereby grants to Collateral Agent and to each Lender, subject to the sentence immediately following, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and propertyproperty of any Loan Party, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliate) Affiliate), or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, any Secured Party may, with the prior written consent of the Collateral Agent or the Lenders may Agent, set off the same or any part thereof and apply the same to any liability or obligation of Borrower any Loan Party even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ANY LOAN PARTY ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY EACH LOAN PARTY.

Appears in 4 contracts

Samples: Loan and Security Agreement (Vapotherm Inc), Loan and Security Agreement (Vapotherm Inc), Loan and Security Agreement (Vapotherm Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF OR SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAVED.

Appears in 4 contracts

Samples: Term Loan and Security Agreement, Loan and Security Agreement (Meru Networks Inc), Term Loan and Security Agreement (Meru Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent If any Specified Default shall have occurred and to be continuing, each LenderSecured Party, a lien, security interest and right of set off as security for all Obligations to Collateral Agent each Participant and each Lender hereunderof their respective Affiliates is hereby authorized at any time and from time to time, whether now existing to the fullest extent permitted by law, to setoff and apply any and all deposits (general or hereafter arising upon special, time or demand, provisional or final, but excluding any payroll, trust and tax withholding accounts) at any time held and other obligations at any time owing by such Secured Party, Participant or Affiliate to or for the credit or the account of the Loan Parties against any and all deposits, credits, collateral and property, of the Obligations of the Loan Parties now or hereafter existing under this Agreement or other Loan Document to the extent such are then due and owing, although such Obligations may be otherwise fully secured; provided that such Secured Party shall provide the Borrower with written notice promptly after its exercise of such right of setoff. The rights of each Secured Party under this SECTION 9.08 are in addition to other rights and remedies (including other rights of setoff) that such Credit Party may have. No Credit Party will, or will permit its Participant to, exercise its rights under this SECTION 9.08 without the possession, custody, safekeeping or control consent of Collateral the Administrative Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsRequired Lenders. ANY AND ALL RIGHTS TO REQUIRE THE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES ANY OF THE OBLIGATIONS, OBLIGATIONS PRIOR TO EXERCISING THE EXERCISE BY ANY SECURED PARTY, PARTICIPANT OR AFFILIATE OF ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER UNDER THIS SECTION ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Credit Agreement (Music123, Inc.), Credit Agreement (Music123, Inc.), Credit Agreement (Music123, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a an Affiliate of Collateral Agent affiliateAgent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 4 contracts

Samples: Loan and Security Agreement (Spectrum Pharmaceuticals Inc), Loan and Security Agreement (Rezolute, Inc.), Loan and Security Agreement (SOC Telemed, Inc.)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral the Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Loan and Security Agreement (Acclarent Inc), Loan and Security Agreement (Poniard Pharmaceuticals, Inc.), Loan and Security Agreement (Hansen Medical Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Loan and Security Agreement (Peregrine Pharmaceuticals Inc), Loan and Security Agreement (Cryocor Inc), Loan and Security Agreement (Peregrine Pharmaceuticals Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an any Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even event though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 4 contracts

Samples: Term Loan and Security Agreement, Loan and Security Agreement (Meru Networks Inc), Term Loan and Security Agreement (Meru Networks Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan Modification Agreement (Visual Networks Inc), Loan Modification Agreement (NMS Communications Corp), Loan Modification Agreement (Visual Networks Inc)

Right of Set-off. In consideration of Bank's agreement to enter into this ---------------- Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan Modification Agreement (Seachange International Inc), Loan Modification Agreement (LTX Corp), Loan Modification Agreement (Seachange International Inc)

Right of Set-off. In consideration of Lenders’ agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each Lenderfor the benefit of the Lenders, a lien, security interest and right of set off as security for all Obligations owed to Collateral Agent and each Lender hereunderthe Lenders, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders any Lender (including a Collateral Agent affiliateSubsidiary thereof) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligations of Borrower even though unmatured and then due regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan Modification Agreement, Loan Modification Agreement (Vericel Corp), Loan Modification Agreement (Vericel Corp)

Right of Set-off. The Borrower and each Guarantor hereby grants to Collateral Agent and to each Lender, Lender a liencontinuing Lien, security interest interest, and right of set off setoff as security for all liabilities and obligations to such Lender (including the Obligations to Collateral Agent and each Lender hereunderthe Guaranteed Obligations), whether now existing or hereafter arising arising, upon and against any and all deposits, credits, collateral and propertyProperty, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders such Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) thereof or in transit to any of them. At any time after the occurrence and during the continuance of an Event of DefaultDefault has occurred and is continuing, without demand or noticenotice (any such notice being expressly waived by the Borrower and the Guarantors), Collateral Agent or the Lenders each Lender may set off the same setoff them or any part thereof and apply the same them to any liability or obligation of the Borrower and/or any Guarantor (including the Obligations and/or the Guaranteed Obligations) even though unmatured and regardless of the adequacy of any other collateral securing for the Obligations or the Guaranteed Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE FOR SUCH OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER AND/OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Export Prepayment Finance Agreement (Adecoagro S.A.), Export Prepayment Facility Agreement (Adecoagro S.A.), Export Prepayment Finance Agreement (Adecoagro S.A.)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan Modification Agreement (Netscout Systems Inc), Loan and Security Agreement (Critical Therapeutics Inc), Loan Modification Agreement (Netscout Systems Inc)

Right of Set-off. Borrower Each Grantor hereby grants to the Collateral Agent and to each Lender, for the benefit of the New Secured Parties a lien, security interest and right of set off setoff as security for all New Debenture Obligations to Collateral Agent and each Lender hereunderthe New Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of the Collateral Agent or the Lenders or any entity under the control of the Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of themAgent. At any time after the occurrence and during the continuance of an Event of DefaultDefault (as defined in the New Debentures), without demand or notice, the Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Grantors and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE THE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GRANTORS OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Security Agreement (Kruttschnitt Theodore H Iii), Securities Purchase Agreement (Exchange Applications Inc), Security Agreement (Insight Venture Partners Iv Lp)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all of the rights, titles and interests of such Borrower in deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Borrowers even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF ANY BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Sophiris Bio Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a an Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured then due and payable and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 3 contracts

Samples: Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Angie's List, Inc.), Loan and Security Agreement (Somaxon Pharmaceuticals, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Amendment, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cardiovascular Systems Inc), Loan and Security Agreement (Cardiovascular Systems Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured then due and payable and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Clarus Therapeutics Inc), Loan and Security Agreement (Clarus Therapeutics Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and propertyproperty constituting Collateral of Borrower (other than accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of a Credit Party or Subsidiary’s employees and identified to Collateral Agent by Borrower as such), now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same such Collateral of Borrower or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Durata Therapeutics, Inc.), Loan and Security Agreement (Durata Therapeutics, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations, provided that Collateral Agent shall use commercially reasonable efforts to promptly notify Borrower in writing of any such set-off. Notwithstanding the foregoing, in no event shall Collateral Agent’s failure to notify Borrower pursuant to the foregoing sentence cause or result in any breach of this Agreement, subject Collateral Agent or any Lender to any liability or in any way limit or restrict any rights or remedies available to Collateral Agent or any Lender pursuant to this Agreement, any other Loan Document or otherwise. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sutro Biopharma Inc), Loan and Security Agreement (Sutro Biopharma Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent (for the benefit of the Secured Parties) and to each LenderPurchaser, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderthe Purchasers, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders and each Purchaser may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Note Purchase Agreement (Global Telecom & Technology, Inc.), Note Purchase Agreement (Global Telecom & Technology, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to for the benefit of each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Transenterix Inc.), Loan and Security Agreement (SafeStitch Medical, Inc.)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral Collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Borrowers even though unmatured and regardless of the adequacy of any other collateral Collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWERS ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Alphatec Holdings, Inc.), Loan and Security Agreement (Alphatec Holdings, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and propertyproperty constituting Collateral, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Visterra, Inc.), Loan and Security Agreement (Visterra, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Waiver Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Waiver Agreement (Stereotaxis, Inc.), Waiver Agreement (Stereotaxis, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent Agent, for its benefit and for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT OR ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Chimerix Inc), Loan and Security Agreement (Chimerix Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Administrative Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Administrative Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Administrative Agent or the Lenders or any entity under the control of Collateral the Administrative Agent or the Lenders (including a Collateral an Administrative Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Administrative Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT AGENTS TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 12.11 Reserved.

Appears in 2 contracts

Samples: Loan and Security Agreement (Regado Biosciences Inc), Loan and Security Agreement (Regado Biosciences Inc)

Right of Set-off. Borrower Each Loan Parties hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Loan Parties even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Immunocore LTD), Loan and Security Agreement (Immunocore LTD)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan Modification Agreement (Ibasis Inc), Loan Modification Agreement (Ibasis Inc)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan Modification Agreement (Ibasis Inc), Loan Modification Agreement (Ibasis Inc)

Right of Set-off. Borrower hereby grants to Collateral Credit Agent and to each Lender, Lender a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Credit Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Credit Agent or the Lenders any Lender or any entity under the control of Collateral Credit Agent or the Lenders (including a Collateral Agent affiliate) such Lender, and their respective successors and assigns or in transit to any of them, other than third-party custodial accounts maintained by Borrower at Credit Agent or any Lender. At If Borrower defaults in the payment of any Obligation or in the performance of any of its duties under the Loan Documents, Credit Agent or any applicable Lender may, without Notice to or demand on Borrower (which Notice or demand Borrower expressly waives), set-off, appropriate or apply any property of Borrower held at any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral by Credit Agent or the Lenders may set off the same any applicable Lender, or any part thereof and apply indebtedness at any time owed by Credit Agent or any applicable Lender to or for the same to any liability or obligation account of Borrower even though unmatured and regardless of the adequacy of any other collateral securing Borrower, against the Obligations, whether or not those Obligations have matured. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL CREDIT AGENT OR ANY APPLICABLE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Mortgage Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.), Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Administrative Agent and to each Lender, and each of their respective Affiliates and Subsidiaries, a continuing lien, security interest and right of set off setoff as security for all Obligations to Collateral Administrative Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Administrative Agent or the Lenders any Lender, or any entity under the control of Collateral Agent their Affiliates or the Lenders (including a Collateral Agent affiliate) Subsidiaries and their respective successors and assigns or in transit to any of them, other than third-party custodial, escrow or other trust accounts maintained by Borrower at Administrative Agent or any Lender or any of their respective Affiliates or Subsidiaries. At any time upon or after the occurrence and during the continuance continuation of an Event of Default, without demand or noticenotice (any such notice being expressly waived by Borrower), Collateral Administrative Agent or the Lenders any Lender or any of their respective Affiliates or Subsidiaries may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Obligations even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL ADMINISTRATIVE AGENT OR ANY LENDER OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL, NON-ESCROW, NON-TRUST DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Bridge Loan Warehousing Credit and Security Agreement (Ares Commercial Real Estate Corp), Bridge Loan Warehousing Credit and Security Agreement (Ares Commercial Real Estate Corp)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliate) or in transit to any of them. At Subject to the requirements of Section 9.4, at any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (TRIA Beauty, Inc.), Loan and Security Agreement (TRIA Beauty, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral Collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a an Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral Collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hyperion Therapeutics Inc), Loan and Security Agreement (Ardea Biosciences, Inc./De)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Lender a continuing lien, security interest interest, and right of set set-off as security for all Obligations liabilities and obligations owned to Collateral Agent and each the Lender hereunder(including the Obligations), whether now existing or hereafter arising arising, upon and against any and all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) thereof or in transit to any of them. At any time after the occurrence and during the continuance of an Event of DefaultDefault has occurred and is continuing, without demand or noticenotice (any such notice being expressly waived by the Borrower), Collateral Agent or the Lenders Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of the Borrower (including the Obligations) even though unmatured and regardless of the adequacy of any other collateral securing for the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE FOR SUCH OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER EACH OF THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Senior Secured Term Loan Facility Agreement, Senior Secured Term Loan Facility Agreement (Navios South American Logistics Inc.)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, the Lender a lien, security interest interest, and a right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral collateral, and property, now or hereafter in the possession, custody, safekeeping safekeeping, or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Defaulttime, without demand or notice, Collateral Agent or the Lenders Lender may set off the same or any part thereof and apply the same to any liability or obligation of the Borrower even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS CREDITS, OR OTHER PROPERTY OF BORROWER EACH BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY VOLUNTARILY, AND IRREVOCABLY WAIVED. The Lender shall not be required to marshal any present or future security for, or guarantees of, the Obligations or to resort to any such security or guarantee in any particular order and each Borrower waives, to the fullest extent that it lawfully can, (a) any right they might have to require the Lender to pursue any particular remedy before proceeding against them and (b) any right to the benefit of, or to direct the application of the proceeds of any collateral until the Obligations are paid in full.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Arrhythmia Research Technology Inc /De/)

Right of Set-off. The Borrower hereby grants grant to Collateral Agent and to each Lender, the Lender a continuing lien, security interest interest, and right of set off setoff as security for all Obligations liabilities and obligations owned to Collateral Agent and each the Lender hereunder(including the Obligations), whether now existing or hereafter arising arising, upon and against any and all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) thereof or in transit to any of them. At any time after the occurrence and during the continuance of an Event of DefaultDefault has occurred and is continuing, without demand or noticenotice (any such notice being expressly waived by the Borrower), Collateral Agent or the Lenders Lender may set off setoff the same or any part thereof and apply the same to any liability or obligation of the Borrower (including the Obligations) even though unmatured and regardless of the adequacy of any other collateral securing for the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE FOR SUCH OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 2 contracts

Samples: Loan Facility Agreement (Navios South American Logistics Inc.), Loan Facility Agreement (Navios South American Logistics Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral Collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Tribute Pharmaceuticals Canada Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL REQUIRECOLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 1 contract

Samples: Subordinated Business Loan and Security Agreement (Banzai International, Inc.)

Right of Set-off. Borrower Each Grantor hereby grants to the Note Collateral Agent and to each Lender, for the benefit of the Note Secured Parties a lien, security interest and right of set off setoff as security for all Note Obligations to Collateral Agent and each Lender hereunderthe Note Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of the Note Collateral Agent or the Lenders or any entity under the control of the Note Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of themAgent. At any time after the occurrence and during the continuance of an Event of DefaultDefault (as defined in the Notes), without demand or notice, the Note Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Liability of Borrower the Grantors and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Note Obligations. ANY AND ALL RIGHTS TO REQUIRE THE NOTE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE NOTE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GRANTORS OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY THE GRANTORS.

Appears in 1 contract

Samples: Security Agreement (Exchange Applications Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them; provided that such right of set off may be exercised by Bank only upon the occurrence and during the continuance of an Event of Default. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliateor Lender Affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.. Midcap / MannKind / Credit and Security Agreement

Appears in 1 contract

Samples: Credit and Security Agreement (Mannkind Corp)

Right of Set-off. Borrower Each Grantor and any guarantor hereby grants grant to Collateral Agent and to each Lenderthe Secured Parties, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderthe Secured Parties, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Secured Parties or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of themSecured Parties. At any time after the occurrence and during the continuance of an Event of DefaultDefault (as defined in the Convertible Debentures), without demand or notice, Collateral Agent or the Lenders Secured Parties may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Grantors and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE SECURED PARTIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GRANTORS OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Security Agreement (Exchange Applications Inc)

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Right of Set-off. Borrower The Company hereby grants to Collateral Agent and to each Lenderthe Holder, a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Holder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Holder or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) FleetBoston Financial Corporation and its successors and assigns, or in transit to any of them. At any time after following the occurrence and during the continuance of an Event of Default, without demand or noticenotice (any such notice being expressly waived by the Company), Collateral Agent or the Lenders Holder may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Company even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsNotes. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE HOLDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSNOTE, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE COMPANY OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Security Agreement (Balchem Corp)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each LenderLeader, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (GAIN Capital Holdings, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 20.

Appears in 1 contract

Samples: Loan Modification Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Tranzyme Inc)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Lender a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, and their respective successors and assigns or in transit to any of them, other than third-party custodial accounts maintained by Borrower at Lender. At any time after the Upon occurrence and during the continuance of an Event of DefaultDefault with respect to the payment of any Obligation or in the performance of any of its duties under the Loan Documents, the Lender may, without Notice to or demand on the Borrower (which Notice or noticedemand the Borrower expressly waives), Collateral Agent set-off, appropriate or apply any property of the Lenders may set off Borrower held at any time by the same Lender, or any part thereof and apply indebtedness at any time owed by the same Lender to any liability or obligation for the account of Borrower even though unmatured and regardless of the adequacy of any other collateral securing a Borrower, against the Obligations, whether or not those Obligations have matured. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Credit and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of a Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Ligand Pharmaceuticals Inc)

Right of Set-off. Borrower hereby grants to Administrative Agent, Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral such Secured Party (including an Affiliate of the Administrative Agent or the Lenders (including a Collateral Agent affiliateAgent) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE ADMINISTRATIVE AGENT OR COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 1 contract

Samples: Loan and Security Agreement (Gamida Cell Ltd.)

Right of Set-off. In consideration of Bank's agreement to enter into this EXIM Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. CONFIDENTIALITY. Bank may use confidential information for the development of databases, reporting purposes, and market analysis, so long as such confidential information is aggregated and anonymized prior to distribution unless otherwise expressly permitted by Borrower. The provisions of the immediately preceding sentence shall survive the termination of the Loan Agreement.

Appears in 1 contract

Samples: Loan Modification Agreement (Stereotaxis, Inc.)

Right of Set-off. In consideration of Lenders’ agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderLenders, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLenders, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliateLender subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDERS TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (Meru Networks Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank or in transit to any of them. At any time after the occurrence and during During the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and any guarantor then due and payable and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Onesource Information Services Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF SET-OFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Epresence Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of If an Event of DefaultDefault has occurred and is continuing, without demand or prior notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured then due and payable and regardless of the adequacy of any other collateral securing the Obligations. Bank will notify Borrower of any such set off, provided that failure to give such notice shall not affect Bank’s rights under this Section 12.10. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Datawatch Corp)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Lender a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Lender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, and their respective successors and assigns or in transit to any of them, other than third-party custodial accounts maintained by Borrower at Lender. At any time after the Upon occurrence and during the continuance of an Event of DefaultDefault with respect to the payment of any Obligation or in the performance of any of its duties under the Loan Documents, the Lender may, without Notice to or demand on the Borrower (which Notice or noticedemand the Borrower expressly waives), Collateral Agent set-off, appropriate or apply any property of the Lenders may set off Borrower held at any time by the same Lender, or any part thereof and apply indebtedness at any time owed by the same Lender to any liability or obligation for the account of Borrower even though unmatured and regardless of the adequacy of any other collateral securing a Borrower, against the Obligations, whether or not those Obligations have matured. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH NON-CUSTODIAL DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Warehouse Loan and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each Lender, Bank a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank (up to the amount of such Obligations), whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Visual Networks Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them, other than, in each case, the Excluded Accounts. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Pulmonx Corp)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent Agent, for the benefit of itself and to each LenderLenders, a lienLien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender hereunderObligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Agent, any Lender or any entity under the control of Collateral Agent or the Lenders a Lender (including a Collateral an Agent affiliateor Lender subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or or, at the Lenders direction of Agent, any Lender may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Poniard Pharmaceuticals, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lenderfor the benefit of the Lenders, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Selecta Biosciences Inc)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Administrative Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Administrative Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Administrative Agent or the Lenders or any entity under the control of Collateral the Administrative Agent or the Lenders (including a Collateral an Administrative Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Administrative Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT AGENTS TO EXERCISE ITS THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (LendingClub Corp)

Right of Set-off. Borrower hereby grants to Collateral Administrative Agent and to each Lender, and each of their respective Affiliates and Subsidiaries, a continuing lien, security interest and right of set off setoff as security for all Obligations to Collateral Administrative Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Administrative Agent or the Lenders any Lender, or any entity under the control of Collateral Agent their Affiliates or the Lenders (including a Collateral Agent affiliate) Subsidiaries and their respective successors and assigns or in transit to any of them, other than third-party custodial, escrow or other trust accounts maintained by Borrower at Administrative Agent or any Lender or any of their respective Affiliates or Subsidiaries . At any time upon or after the occurrence and during the continuance of an Event of DefaultDefault which has not been waived in writing by the Administrative Agent, without demand or noticenotice (any such notice being expressly waived by Borrower), Collateral Administrative Agent or the Lenders any Lender may set off or any of their respective Affiliates or Subsidiaries setoff the same or any part thereof and apply the same to any liability or obligation of Borrower the Obligations even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL ADMINISTRATIVE AGENT OR ANY LENDER OR ANY OF THEIR AFFILIATES OR SUBSIDIARIES TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Walker & Dunlop, Inc.)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all 4 Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 12.

Appears in 1 contract

Samples: Loan Modification Agreement

Right of Set-off. Borrower hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Bank hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even EXECUTION COPY though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Equinix Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY BORROWER.

Appears in 1 contract

Samples: Loan and Security Agreement (Axcella Health Inc.)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE TEE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (GTC Biotherapeutics Inc)

Right of Set-off. Borrower Issuer and each Guarantor hereby grants grant to Collateral Agent and to each LenderPurchaser, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender Secured Parties hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders any Secured Party or any entity under the control of Collateral Agent or the Lenders such Secured Party (including a Collateral Agent affiliateAffiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders any Secured Party may set off the same or any part thereof and apply the same to any liability or obligation of Borrower Issuer even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ISSUER ARE HEREBY ASIA-DOCS\12847562.6 DRAFT 076267-0001 KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVEDWAIVED BY ISSUER AND EACH GUARANTOR.

Appears in 1 contract

Samples: Restructuring Support Agreement (5E Advanced Materials, Inc.)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, Default without demand or notice, Collateral Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Inspire Pharmaceuticals Inc)

Right of Set-off. Each Borrower hereby grants to Collateral Agent and to each Lender, Lender a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, custody safekeeping or control of Collateral Agent or the Lenders Lender or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Lender, and its successors and assigns or in transit to any of them, other than Third Party Deposit Accounts. At any time upon or after the occurrence and during the continuance of an Event of Default, without demand or noticenotice (any such notice being expressly waived by Borrowers), Collateral Agent or the Lenders Lender may set off setoff the same or any part thereof and apply the same to any liability or obligation of Borrower Borrowers even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsLoan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITSNON-THIRD PARTY DEPOSIT ACCOUNTS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWERS, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Centerline Holding Co)

Right of Set-off. In consideration of Bank's agreement to enter into this Loan Modification Agreement, Borrower and the guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Silicon Valley Bank or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and the guarantor regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR THE GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (Phase Forward Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower and any guarantor hereby grants reaffirm and hereby grant to Collateral Agent and to each LenderBank, a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (Matrixone Inc)

Right of Set-off. In consideration of Bank’s agreement to enter into this Loan Modification Agreement, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderBank, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderBank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders Silicon Valley Bank (including a Collateral Agent affiliateBank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Of Default, without demand or notice, Collateral Agent or the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan Modification Agreement (Wireless Ronin Technologies Inc)

Right of Set-off. In consideration of Agent’s and Lenders’ agreement to enter into this Fourth Amendment, Borrower hereby reaffirms and hereby grants to Collateral Agent and to each LenderAgent, for the ratable benefit of the Secured Parties, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderObligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral any subsidiary of the Agent affiliateor Lenders) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or Lenders, subject to the Lenders terms of the Loan Agreement, may set off the same or any part thereof and apply the same to any liability or obligation Obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT OR LENDERS TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Telecommunication Systems Inc /Fa/)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lienLien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a an Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Tranzyme Inc)

Right of Set-off. Borrower hereby grants to Collateral Agent and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations, provided that Collateral Agent shall use commercially reasonable efforts to promptly notify Borrower in writing of any such set- off. Notwithstanding the foregoing, in no event shall Collateral Agent’s failure to notify Borrower pursuant to the foregoing sentence cause or result in any breach of this Agreement, subject Collateral Agent or any Lender to any liability or in any way limit or restrict any rights or remedies available to Collateral Agent or any Lender pursuant to this Agreement, any other Loan Document or otherwise. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Sutro Biopharma, Inc.)

Right of Set-off. Borrower The guarantor hereby grants to Collateral Agent and to each Lenderthe Holder, a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Holder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Holder or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) FleetBoston Financial Corporation and its successors and assigns, or in transit to any of them. At any time after following the occurrence and during the continuance of an Event of Default, without demand or noticenotice (any such notice being expressly waived by the Guarantor), Collateral Agent or the Lenders Holder may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsNotes. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE HOLDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSNOTES, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Guaranty (Balchem Corp)

Right of Set-off. The Borrower hereby grants to Collateral Agent and to each Lender, the Bank a lien, security interest and a right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderthe Obligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Bank or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) Bank, or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Defaulttime, without demand or notice, Collateral Agent or upon an Event of Default, the Lenders Bank may set off the same or any part thereof and apply the same to any liability or obligation of the Borrower even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOANS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. The Bank shall not be required to marshal any present or future security for, or guarantees of, the Obligations or to resort to any such security or guarantee in any particular order and the Borrower waives, to the fullest extent that it lawfully can, (a) any right it might have to require the Bank to pursue any particular remedy before proceeding against it and (b) any right to the benefit of, or to direct the application of the proceeds of any collateral until the Obligations are paid in full.

Appears in 1 contract

Samples: Loan Agreement (Precision Optics Corporation, Inc.)

Right of Set-off. Borrower and any guarantor hereby grants grant to Collateral Administrative Agent and to each Lenderfor the ratable benefit of Lenders, a lien, security interest and right of set set-off as security for all Obligations to Collateral Administrative Agent and each Lender Lender, hereunder, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Administrative Agent or the Lenders or any entity under the control of Collateral the Administrative Agent or the Lenders (including a Collateral an Administrative Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Administrative Agent or the Lenders may set set-off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL ADMINISTRATIVE AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (LendingClub Corp)

Right of Set-off. Subject to the Subordination Agreement, the Borrower hereby grants to Collateral the Agent for itself and to each Lenderthe ratable benefit of all of the Lenders, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderthe Lenders, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral the Agent or the Lenders or any entity under the control of Collateral the Agent or the Lenders any Lender (including a Collateral Agent affiliatesubsidiary of any Lender) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral the Agent or the Lenders may set off the same or any part thereof and apply the same to any liability or obligation Obligations of the Borrower even though unmatured and then due, regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL THE AGENT OR ANY LENDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Novelion Therapeutics Inc.)

Right of Set-off. Borrower hereby grants to Collateral the Agent and to each Lender, Lender a lien, security interest and right of set off setoff as security for all Obligations to Collateral Agent and each Lender hereunderObligations, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any Lender, any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) any Lender and its successors and assigns or in transit to any of them. At any time after time, without demand or notice (any such notice being expressly waived, to the extent permitted by law, by Borrower), upon the occurrence of and during the continuance continuation of an Event of Default, without demand or notice, Collateral Agent or Default the Lenders may set off the same or any part thereof and apply the same to any liability or obligation of Borrower and any guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Obligationsloan. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE LENDERS TO EXERCISE ITS THEIR RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSLOAN, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Five9, Inc.)

Right of Set-off. Borrower hereby grants to Collateral Agent for the ratable benefit of Lenders, and to each Lender, a lien, security interest and right of set off as security for all Obligations to Collateral Agent and each Lender hereunderLender, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders or any entity under the control of Collateral Agent or the Lenders (including a Collateral an Agent affiliatesubsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Collateral Agent or the Lenders Lenders, as appropriate, may set off the same or any part thereof and apply the same to any liability or obligation Obligations of Borrower even though unmatured then due and payable regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Loan and Security Agreement (Exa Corp)

Right of Set-off. Borrower The Corporate Guarantor hereby grants to Collateral Agent and to each Lenderthe Holder, a continuing lien, security interest and right of set off setoff as security for all Obligations liabilities and obligations to Collateral Agent and each Lender hereunderthe Holder, whether now existing or hereafter arising arising, upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Collateral Agent or the Lenders Holder or any entity under the control of Collateral Agent or the Lenders (including a Collateral Agent affiliate) FleetBoston Financial Corporation and its successors and assigns, or in transit to any of them. At any time after following the occurrence and during the continuance of an Event of Default, without demand or noticenotice (any such notice being expressly waived by the Corporate Guarantor), Collateral Agent or the Lenders Holder may set off the same or any part thereof and apply the same to any liability or obligation of Borrower the Corporate Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the ObligationsNotes. ANY AND ALL RIGHTS TO REQUIRE COLLATERAL AGENT THE HOLDER TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONSNOTE, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER THE CORPORATE GUARANTOR OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

Appears in 1 contract

Samples: Security Agreement (Balchem Corp)

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